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Sompo Enhances Digital Transformation with Palantir’s AI Solutions
Sompo , a top Brazilian insurer, has partnered with Palantir Technologies Inc. (NYSE: PLTR) to enhance its digital transformation. The multi-year investment will implement Palantir’s Foundry and Artificial Intelligence Platform (AIP) to improve decision-making in pricing, underwriting, and risk management . This collaboration aims to boost efficiency and response times for customers and partners. The partnership builds on Palantir’s existing relationship with Sompo Holdings in Japan. Marine Insurance , where Sompo leads the Brazilian market, is the first segment to integrate the software into pricing processes. The implementation involves smart models that interpret documents and propose values based on historical pricing and risk factors. This marks Palantir’s first partnership in the Brazilian insurance sector, reflecting its growing presence in the country. The collaboration underscores Sompo’s commitment to leveraging Data Analytics and AI for strategic insights and improved decision-making across the organization. Positive Partnership with Palantir to enhance digital transformation and AI capabilities Implementation of Palantir Foundry and AIP to improve pricing, underwriting, and risk management Expected efficiency gains and faster response times for customers and partners Integration of smart models in Marine Insurance pricing processes Potential for improved decision-making and competitive advantage in the Brazilian market Negative None. Sompo’s […]
Carrier’s Bold Moves in AI and Digital Transformation
Carrier is set to establish a 100+ employee AI Center of Excellence in India, aiming to propel the company to the forefront of AI innovation and advancement. Share In 2019, Carrier established its first Digital Hub in Hyderabad, India, coinciding with its transition to become an independent, publicly traded company in 2020. Led by Senior Vice President and Chief Digital Officer Bobby George, Carrier embarked on a digital transformation journey to modernise and strengthen the digital infrastructure of a 100-year-old organisation. Since then, Carrier’s success with Digital Hub India has led to the development of the “Connected Hubs” model, integrating hubs in Mexico and China with operations in Bengaluru and Hyderabad. “Following our spin-off, where we prioritised goals, such as becoming more customer-centric, transforming our customer interactions, fostering innovation, and developing sustainable products, we recognized an internal talent deficit. This led us to make the strategic decision to establish a centre in Hyderabad, India,” shared Bobby George, SVP and CDO of Carrier, in a recent interview with AIM. “This move was pivotal in streamlining and accelerating digital deliveries worldwide, inspiring us to replicate the model across three countries, each with tailored focus areas.” More Than a Delivery Center: A […]
Digital Transformation: Is Going Paperless Just Trading One Crisis for Another?
The digital transformation has been changing business operations for years and with AI growing stronger with each new launch, sustainability experts from BusinessWaste.co.uk have share a few ways in which the digital age is affecting waste management. Companies naturally transition from manual processes to digital methods to improve efficiency and customer engagement. While digital transformation offers many benefits, it also presents new challenges, particularly in managing the surge in electronic waste (e-waste). Cutting Down on Paper Waste One of the most tangible benefits of digital transformation is the significant reduction in paper usage. Across sectors—from healthcare to legal—businesses are adopting digital document storage solutions, thus eliminating the need for paper files. Other practices such as online forms, digital menus and ticketing systems, online training, and digital advertising also contribute to this decline. Such shifts not only save trees and reduce the energy and water used in paper production but also translate into substantial cost savings for businesses. Financially, many companies report a swift return on their digital investments, with 59% of UK businesses that went paperless seeing a full return within 12 months, and 84% within 18 months. Reducing Printer Ink Waste A direct consequence of reduced paper usage […]
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Public Prosecution.. Digital transformation paths to improve performance, bring justice closer
Public Prosecution.. Digital transformation paths to improve performance, bring justice closer SANA’A August 23. 2024 AD (Saba) – The Public Prosecution is advancing its digital transformation efforts to enhance performance and make justice more accessible to citizens. This initiative follows the successful implementation of the criminal case process system, which allows for networking and monitoring within prosecution offices. The system is designed to track performance, submit regular reports to the Attorney General, and identify areas for improvement. Currently, all case data received by prosecution offices are being automated, and a comprehensive strategy for digital transformation is being developed. This strategy encompasses all aspects of prosecution work, aiming to modernize and create a more advanced digital environment. This includes updating laws, regulations, and work methods, applying smart judicial file management systems, and improving access to legal and judicial information. Attorney General Judge Dr. Mohammed al-Dailami emphasized that this project aligns with the directives of revolution leader Sayyed Abdulmalik Badr al-Din Al-Houthi and the Supreme Political Council. The focus is on using technology to improve the efficiency and effectiveness of investigations, evidence collection, and the implementation of criminal rulings. Jamil al-Hattar, head of the Digital Oversight Department and the team responsible […]
Webinar | Digital Transformation & Artificial Intelligence: What It Means For Your Career
Home Insights Webinar | Digital Transformation & Artificial Intelligence: What It Means For Your Career AI and digital transformation is going to become an essential part of global industry Discover how innovations such as AI and digital transformation are reshaping industries and creating new job opportunities Want to learn more about digital transformation and artificial intelligence (AI) and find out how they can impact your career? In this BusinessBecause Presents webinar, in partnership with Bentley University , we dive into the the impact of emerging technologies and AI on business today and how your MBA can help you future-proof your career. As new developments in technology constantly emerge, it’s important to know how to stay one step ahead no matter what industry you decide to enter. The webinar reveals why digital transformation is an essential area for ambitious professionals to develop their knowledge and skills. Joining the expert panel is Sean Ferguson, vice president for strategy and innovation, Bentley University, Sandeep Purao, professor, computer information systems, Bentley University, and Jennifer Xu, professor, computer information systems, Bentley University. Key takeaways from this webinar: ⇨ Learn about the various ways digital transformation and AI are being implemented within the business landscape […]
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Sompo invests in Palantir’s AI solutions to drive digital transformation
Sompo, a subsidiary of the company responsible for the insurance and reinsurance operations of Sompo Holdings Group outside of Japan, has announced its partnership with Palantir Technologies Inc., a vendor of artificial intelligence (AI) systems. With this initiative, Sompo will leverage Palantir’s data integration and AI solution – which the insurer will invest on over the next three years – to drive its digital transformation. As part of this transformation, the insurer aims to use data analytics and AI to create intelligent assistants which can provide greater accuracy in pricing and operational efficiency, benefiting both insurers and customers. Rodrigo Caramez, Sompo’s Chief Strategy Officer, stated: “Historically, the search for efficiency involved automating simple, repetitive, and high-volume processes. This still applies, but with the new technological frontier applied to the use of data and AI, and the availability of simpler tools with natural language, we can expand this search for efficiency to the organisation’s highly specialised core processes. The challenge now is to ensure that the team is involved and prepared for this new moment.” Igor Zavorize, Sompo’s Superintendent of Strategy and Data Governance, said: “We are excited about our partnership with Palantir, using Foundry and AIP to maximise the […]
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Retail Digital Transformation Market Sector Size, Growth Trends, and Share Analysis Report 2024 – 2031
Retail Digital Transformation Market The Retail Digital Transformation Market is estimated to be valued at US$ 180.23 Bn in 2024 and is expected to reach US$ 555.21 Bn by 2031, growing at a compound annual growth rate (CAGR) of 17.4% from 2024 to 2031. The latest market intelligence report published by CMI with the title "Global Retail Digital Transformation Market 2024, Growth Opportunities, and Forecast" provides actionable insights on Information and Communication Technology industry. The report provides demand analysis, industry insights, competitive intelligence, and customer database. The Research report on Retail Digital Transformation Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps’ Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis. Do you think, if this report could be of your interest? If yes, request Sample Copy of this Report: www.coherentmarketinsights.com/insight…ample/4874 *Note: Sample of the report provides details on the scope and coverage, table of contents, research methodology, and Sample Framework of the report. Actual report of 150+ is available for purchase […]
Shiji and FreedomPay announce partnership to transform Mexican hospitality payment solutions
ATLANTA, Georgia, United States – Shiji, the global hospitality technology innovator, and FreedomPay , a leading provider of secure commerce technology, have announced a partnership that marks a significant expansion into the Mexican market. This partnership underscores Shiji and FreedomPay’s commitment to improving staff and guest experiences in the hospitality businesses across Latin America, aligning with the industry’s shift towards smoother payments and payment management. This partnership between Shiji and FreedomPay will provide a seamless, integrated payments solution to point-of-sale (POS) and property management systems (PMS) . The new integrated solution will offer numerous advantages for hospitality businesses, including streamlined operations, enhanced security, and improved guest experiences. This collaboration will also introduce one of the few integrated payment and POS/PMS solutions in Mexico, addressing the region’s growing demand for innovative and contactless payment solutions. "Our partnership with FreedomPay is a significant milestone for Shiji as we expand into the Mexican market," said Ryan King, Senior Vice President of Shiji Americas. "By integrating our POS and PMS solutions with FreedomPay’s advanced payment technology, we are providing hospitality businesses with a powerful, unified system that meets the growing demand for contactless payments and innovative payment solutions." The partnership aligns with the […]
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7 Lessons for Sustainability Leaders from Failed Digital Initiatives
66c6535bc23418057cb42a7b Dreamstime M 329106327 Despite trillions of dollars invested in digital transformation, the success rates of these initiatives often fall short of expectations. In a 2021 study by McKinsey , 70% of companies reported that their digital transformation initiatives failed to meet their expectations. But from failure comes learning. As companies navigate the complexities of their sustainability efforts and reporting, chief sustainability officers (CSOs) can glean valuable insights from what digital transformation has lacked to enhance the effectiveness of their own programs. ‘Culture Eats Strategy for Breakfast.’ Embracing Peter Drucker’s timeless wisdom, CSOs must recognize that cultural transformation is the bedrock of sustainability success. Just as digital transformations falter without a cultural shift, sustainability initiatives require a profound transformation of mindset and values throughout the organization. This necessitates active leadership engagement, leading by example and a concerted effort to embed sustainability principles into the organizational ethos. Designing for Integration Drawing from the digital transformation playbook, CSOs must carefully consider the optimal organizational design for sustainability teams. Whether embedded within the core business or operating as separate entities, the alignment of sustainability with core strategic objectives is paramount. By fostering integration and alignment, resistance is mitigated and sustainability becomes ingrained […]
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